SeekingAlpha”: Even After Marchex Stock Droped More Than 45%, Last Week Its Still Overvalued

SeekingAlpha.com just covered Marchex and noted even though shares were down 45% last week and is down over 66% since July since July its still overvalued. The post was written by Ariana Research: “On September 18th, 2014, Marchex Inc. (NASDAQ:MCHX) (“Marchex”, “MCHX”, or the “Company”) released an 8K, which subsequently resulted in a decline in the equity value of ~45% for the day, or ~66% since the short was originally recommended this past July. Although the business is most likely worth no more than its net working capital of roughly ~$100MM, I believe it is prudent to take a majority of gains off the table.” The drop seems to have been related to Marchex non-domain business but since Marchex backed off its plan to spin off its domain division Archeo, if you own shares of Marchex for its domain name business the rest of the business is hurting the shares. “The 8K noted...